A relational contract is a contract whose effect is based upon a relationship of trust between the parties. The explicit terms of a relational contract are an outline, while implicit terms and understandings determine the behaviour of the parties.
A relational contract is a contract whose effect is based upon a relationship of trust between the parties. The explicit terms of a relational contract are an outline, while implicit terms and understandings determine the behaviour of the parties.
Source: Wikipedia "Relational contract" · CC BY-SA 4.0
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